FEI Financial Reporting Blog

Great well done this post is nice and FASB Adds on...

2009-07-14T07:56:36.830-04:00

Great well done this post is nice and FASB Adds on information is very brilliant so keep it up nice work specially Financially point of view us great!

A very pleasant read, surprisingly.

2009-07-13T20:20:01.292-04:00

A very pleasant read, surprisingly.

Thanks for the information.

2009-07-13T20:18:40.480-04:00

Thanks for the information.

I cannot wait to see the results.

2009-07-13T20:16:03.007-04:00

I cannot wait to see the results.

Very informative and good publication by the IASB

2009-07-13T05:28:08.523-04:00

Very informative and good publication by the IASB

Bruce, thanks for your comment in clarifying the s...

2009-07-09T11:56:46.949-04:00

Bruce, thanks for your comment in clarifying the stages of the change in name of the IFRS for SMEs draft... and thanks for the heads up on the rebranding issue addressed in IASCF Constition review as shown in Deloitte's notes on the July IASCF meeting, that's quite a story in itself!

Readers: I highly recommend you visit commenter Bruce Pounder's website, http://www.leveragedlogic.com if you are seeking more info or training on IFRS.

Edith, As your subsequent article on FEI's homepa...

2009-07-08T21:12:50.530-04:00

Edith,

As your subsequent article on FEI's homepage points out, the IFRS for SMEs has now been published. Just a minor clarification: the exposure draft (ED) was titled "IFRS for SMEs" -- same as the final version. Between the ED and the final standard, the IASB decided to change the title of the final standard to "IFRS for Private Entities," then changed its mind and decided to call it "IFRS for Non-publicly Accountable Entities" (actually the most accurate name of the three), before eventually deciding to revert to the original name "IFRS for SMEs" prior to the issuance of the final standard.

Now let's see if the IASB really does become the "IFRSB" [see the "IASCF Constitution review" section of the July 2009 Notes from the IASCF Monitoring Board meeting at http://www.iasplus.com/restruct/monitoring.htm].

Very nice Posting sir. I liked it. Helle [Premier...

2009-07-04T07:38:29.259-04:00

Very nice Posting sir. I liked it.

Helle
[Premier Financial Alliance]

Good update about act and fraud information. Fin...

2009-07-03T10:06:56.248-04:00

Good update about act and fraud information.

Finance Bookmark

Great detailed article. Finance Bookmark

2009-07-03T10:06:37.320-04:00

Great detailed article.

Finance Bookmark

Really a nice article written. Finance Bookmark ...

2009-07-03T10:06:19.353-04:00

Really a nice article written.

Finance Bookmark

Interesting that all the folks in the FEI picture ...

2009-07-02T21:45:46.308-04:00

Interesting that all the folks in the FEI picture are women. Quite a change from 75 years ago....

Thank you to Anonymous #1 and Anonymous #2 for you...

2009-06-25T17:23:26.722-04:00

Thank you to Anonymous #1 and Anonymous #2 for your comments, we welcome comments as they extend and advance the dialogue by encompassing others' experience and points of view.

I get the concern over the brazenness of the "not ...

2009-06-25T16:08:09.226-04:00

I get the concern over the brazenness of the "not counting comments" excerpt; however, think back to 2003-04 as 123R was being deliberated; there were thousands of comment letters submitted and if you just went by volume, we'd still have APB 25. Just because something is popular, doesn't make it right. I think context is helpful in thinking through some of these issues, especially when there are public policy concerns brought to bear on "independent" accounting standard setters that can drive an increase in volume of letters.

One should hardly view the ITAC as objective or wi...

2009-06-25T09:58:54.956-04:00

One should hardly view the ITAC as objective or without any agenda.
ITAC was formed by the FASB, and their memebers known supporters of FASBs fair value exit value position so their views should not be a surprise.

The idea that FASB is a private sector and independent is really out there when one considers the source of their funding...public company govenmental assessment and the SEC remains responsible for US accounting standards.

Business & Administration skills are critical to t...

2009-06-17T11:07:55.192-04:00

Business & Administration skills are critical to the growth of the UK economy. As the national standard setting body for Vocational Education in Business, Administration and Governance, the CfA (Council for Administration) leads the UK’s drive for world class skills.

realestate

Yeah this is true. I have read this earlier also t...

2009-06-16T02:57:01.677-04:00

Yeah this is true. I have read this earlier also that around the world top executive will not receive their salary hikes due to this ongoing economic crisis.

This is one of the way to do cost cutting.

To: Anonymous Thank you for your comment; at the t...

2009-05-28T17:11:20.469-04:00

To: Anonymous
Thank you for your comment; at the time I posted the blog (10:31 am, moments after the President's announcement, in fact the press conference I believe was still in progress), the White House had not yet posted information on the nominee, so I linked to the Fox News story which had background info on Sotomayor. I have since updated the first paragraph of the post to add a link to info posted by the White House at 12:15 PM that day. Thanks again for your comment.

Terrific post, Edith.

2009-05-28T12:50:29.339-04:00

Terrific post, Edith.

"Background on Judge Sotomayor can be found in thi...

2009-05-28T12:47:44.340-04:00

"Background on Judge Sotomayor can be found in this FoxNews article."

FoxNews? Really?

Gratitude is the very apt word used .

2009-05-26T06:47:06.977-04:00

Gratitude is the very apt word used .

Just completed our 2008 audit and saw first hand h...

2009-05-25T15:07:43.696-04:00

Just completed our 2008 audit and saw first hand how auditors interpreted FAS 157. The FAS needs to be subject to political pressure, because they certainly aren't responsive to us old practical accountants...

U.S. GAAP and IFRS, when adhered to by accountable...

2009-05-25T11:15:43.092-04:00

U.S. GAAP and IFRS, when adhered to by accountable and responsible professionals, are wonderful systems of STRUCTURED financial disclosure, and it will be even better for investors when they only need to learn one system. Meanwhile, disclosure about asset backed securities was UNstructured, leaving the market without the information needed to burst the bubble built until it was too late. If you're going to use other people's money or create systemic risk (i.e., big leverage), you should be required to describe how the money is being used, with GAAP, IFRS, or another proven form of structured disclosure.

These (mainly) guys who make millions of dollars (...

2009-05-24T01:50:16.539-04:00

These (mainly) guys who make millions of dollars (paid to them by close interest groups) avoid meeting in sunshine to keep the old boy’s, Anglo-Saxon accounting network alive. Instead of taking advantage of new technology solutions and working with the global software industry they are blindsiding the poor regulators and the rest of the world. Perhaps someone should teach them on how to turn on a computer and/or putting RFID chips in their brains. Double entry bookkeeping was a wonderful invention but the patent on it has run out. Never heard of object tracking? including mortgages and financial instruments.
The whole approach reminds me of the messy US legal profession who killed Andersen rather than to compete with them.
mk

Everyone is accountable to someone. In my personal...

2009-05-23T20:26:41.137-04:00

Everyone is accountable to someone. In my personal opinion, to say that there were no accounting failures during the most recent is somewhat ridiculous.